| Dear Members,
The directors have pleasure in presenting the 23rd Annual Report of the
Company along with Audited Financial Results for the year ended 31st
March 2014
1. FINANCIAL HIGHLIGHTS -
The working results of the company for the year stand as under
Amount In Rupees For the Year For the Year
ended 31st March ended 31st March
2014 2013
Turnover NIL NIL
Other Income 4,349 90,313
Profit /Loss Before Tax (24,04,208) (2,22,847)
Profit /Loss After Tax (24,03,960) (2,22,296)
Appropriation out of Profit NIL NIL
Proposed Dividend NIL NIL
Transfer to General Reserve NIL NIL
Transfer to Special Reserve NIL NIL
Balance carried to Balance sheet (24,03,960) (2,22,296)
2. CORPORATE GOVERNANCE
Report on Corporate Governance along with Auditors Compliance
Certificate is included as a part of this report.
3. DIVIDEND
In view of Loss in business, directors do not recommend any dividend
during the year under review.
4. MANAGEMENT DISCUSSION & ANALYSIS REPORT
Separate Management's Discussion & Analysis Report, which is enclosed,
forms part of this report. being eligible offer themselves for
reappointment.
5. DIRECTORS
In accordance with the provision of the Companies Act, 1956 and
Companies 2013 the Articles of Association of the Company, Directors
who retired by rotation at this Annual General Meeting being eligible
offer themselves for reappointment.
6. AUDITORS
M/s. Dhruvaprakash & Co., Chartered Accountants were appointed as
Statutory Auditor of the Company to hold office till the conclusion of
this AGM & are recommended for re-appointment till next AGM.
7. DIRECTORS RESPONSIBILITY STATEMENT
Directors State: -
Pursuant to the requirement of Section 217 (2AA) of the Companies Act,
1956, with respect to Directors' Re- sponsibility Statement, the
Directors hereby confirm that:-
1) In the preparation of the annual accounts for the year ended March
31, 2014, the applicable Accounting Standards have been followed and
proper explanations were provided for material departures.
2) The Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the Company as at the end of the financial year and of the profit
and loss of the Company for that period.
3) The Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 2013 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
4) The Directors had prepared the annual accounts for the financial
year ended March 31, 2014, on a going concern basis.
8. PUBLIC DEPOSIT
During the year 2013-14 the company has not accepted or invited any
deposits from the public.
9. PARTICULARS OF EMPLOYEES
Your Directors' would like to place on record their deep appreciation
of all employees for dedicated and sincere services rendered by them.
The Statement of employees required under Section 217(2A) of the
Companies Act, 1956 read with the Compa- nies (Particulars of
Employees) Amendment Rules, 1975 is not annexed, as there is no
employee drawing salary exceeding the present limits as provided under
the Act i.e. drawing monthly remuneration exceeding Five Lakh Rupees
and annual remuneration exceeding Sixty Lakh Rupees.
10. ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE
The particulars which are required under section 217 (e) of the
companies Act 1956, are not applicable to the Company. Company's
earnings in Foreign Exchange are to the tune of Rs. Nil and outgoing
are Rs. Nil.
11. ACKNOWLEDGEMENTS
Your Directors wish to place on record their sincere appreciation for
the encouragement and co-operation re- ceived by the company from the
bankers, government authorities, Securities & Exchange Board of India.
Direc- tors also wish to place on record their deep appreciation for
the work done by the employees. Your Directors are particularly
grateful to you for your continued support, understanding
encouragement.
FOR & ON BEHALF OF THE BOARD
FOR UNISTAR MULTIMEDIA LIMITED
Sd/-
PLACE : MUMBAI SHRI SHAILEN SHAH
DATE : 02/09/2014 (DIRECTOR) |